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Most buyers should pick Wave.
Choose Expensify if your main job is employee expenses: its free Submit plan covers expense reports and SmartScans, while Collect adds receipt scanning, reimbursements, card management and QuickBooks/Xero links for $5 per member monthly. Choose Wave if you need bookkeeping, invoicing, payments and payroll in one small-business product; Starter is free, while Pro is $19 monthly or $190 yearly. Check payment, receipt and payroll charges before switching: Wave add-ons can change the bill, and Expensify pricing scales by member.
01Side by side
| Expensify | Wave | |
|---|---|---|
| Paid starting price | Collect starts at $5/member/month | Pro: $19 monthly; $15.83/month yearly |
| Free plan | Submit is free for reports and SmartScans | Starter is free for bookkeeping and invoicing |
| Best for | Employee expense reports, approvals, and reimbursements | Small-business bookkeeping, invoicing, payments, and payroll |
| Core strength | Receipt capture, approvals, reimbursements, and spend controls | Bookkeeping, invoicing, payments, and payroll |
| Learning curve | Lower ease-of-use review score: 5 | Higher ease-of-use review score: 7 |
| Integrations and data | QuickBooks, Xero, NetSuite, and Sage Intacct integrations | Accounting integration details are not published |
| Team and seat costs | Per-member fees; Control charges per active member | Monthly plans; receipts and payroll can add fees |
| Support | Support review score: 3 | Support score: 5.5; Advisor help available |
Expensify Choose Expensify if
- Choose Expensify if employee expense reports drive the switch.
- Choose Expensify if reimbursements and card controls matter.
- Choose Expensify if QuickBooks or Xero syncing is needed.
Wave Choose Wave if
- Choose Wave if bookkeeping and invoicing matter more than approvals.
- Choose Wave if you need a free bookkeeping starting point.
- Choose Wave if payroll and payment options belong in one stack.
02Pricing compared
Expensify’s free Submit plan includes expense reports, mileage tracking and unlimited SmartScans for members submitting expenses. Collect costs $5 per member/month and adds receipt scanning, reimbursements, card management and QuickBooks and Xero integrations. Annual-commitment discounts are available, but the rate isn’t published. Control is custom-priced, as low as $9 per active member/month.
Wave’s Starter plan is free, but online payments have transaction fees: card payments are 2.9% + $0.60, and Amex is 3.4% + $0.60. Pro is $19 monthly or $190 yearly ($15.83/month). Digital receipts, payroll and bookkeeping help can add charges; for example, digital receipts cost $8/month on Pro. Compare the add-ons you need, not just the plan price.
03Features and depth
These products handle different parts of a small business’s finances. Expensify is built around employee expenses: people can capture receipts, submit reports, get approvals and receive reimbursements. It also covers spend limits, budgets, corporate and virtual cards, bill pay, invoices and travel bookings. Accounting links include QuickBooks, NetSuite, Sage Intacct and Xero, though the listed Collect plan includes QuickBooks and Xero; ERP integrations appear under Control.
Wave is broader accounting software for small businesses. Starter includes bookkeeping records, estimates, invoices and bills. Pro adds automatic bank imports, transaction categorization and late-payment reminders. Wave also offers online payments, payroll and bookkeeping or accounting help through Advisors. Its receipt costs need attention: digital receipts are a paid add-on on Starter and Pro, while the Advisors plan lists monthly bookkeeping support but excludes mobile receipts.
Choose by the work you need covered: expense approvals and reimbursements point to Expensify; bookkeeping and customer invoicing point to Wave.
04Ease of use and learning curve
The learning curve depends on the workflow. Expensify’s free Submit plan is aimed at employees filing expenses; admins who need reimbursements, card controls or approval flows will need to consider paid plans. Its pricing scales by member, so check who counts toward the bill before moving a whole team.
Wave starts with bookkeeping, estimates and invoicing on its free Starter plan. Pro automates bank imports and transaction categorization, while payroll and receipt capture can add separate charges. That makes Wave a more natural fit for a business owner managing books and invoices, but the total cost takes more than a plan-price comparison. Reviews published for this comparison flag user sentiment and support as concerns for both products, particularly Expensify.
Questions people ask
Is there an Expensify app?
Yes. Expensify offers a mobile app for receipt capture, and its feature list also describes travel booking in the app. The free Submit plan includes mileage tracking and unlimited SmartScans; features such as reimbursements and corporate card management are listed with the paid Collect plan.
What are some accounting software similar to Wave?
Expensify overlaps with accounting software through expense tracking and integrations, including QuickBooks and Xero on Collect. It isn’t a like-for-like Wave replacement: Wave includes bookkeeping, estimates and invoicing, while Expensify centers on employee expenses, approvals and reimbursements.
Does Wave Accounting have an app?
Yes. Wave describes a mobile app, and Starter includes mobile invoicing. The pricing details list digital receipt capture as a paid add-on on Starter and Pro, so check that charge if mobile receipt management is part of your switch.
Is Expensify any good?
It may fit teams that need expense reports, receipt capture and reimbursements, with a free Submit plan and Collect at $5 per member/month. It is less compelling as a general bookkeeping replacement for Wave. The published review flags user sentiment and support as areas of concern.